Digital Commons Network^™

A Framework For Teaching The Rational Voter Model In Public Choice Courses

Journal of Economics and Finance Education

This study provides a simple interpretation and extension of the Rational Voter Model (RVM), which enables students in Public Choice classes to easily understand its application in a real-world context. In doing so, the presentation identifies key aggregate-level economic and non-economic determinants of the expected benefits from voting and further provides empirical findings for the period 1960-2000, data indicate that the voter participation rate has been directly/positively related to strong public approval or strong public disapproval of the incumbent President. This study also finds that the voter participation rate has been positively impacted by the opportunity to vote in Presidential …

From Cafes To Competitiveness: The Influence Of Amenities On Office Values And Suburban Economic Development In Portland, Or, Jihye Kang

Dissertations and Theses

This dissertation examines the spatial and economic implications of urban amenities in the formation of suburban office markets in the post-pandemic period. The research applies principles from agglomeration theory, spatial econometrics, and urban planning to analyze the statistical relationships between amenity distribution, rent formation, and location behavior across central and non-central submarkets.

The research consists of three integrated papers focused on the Portland–Vancouver–Hillsboro, OR–WA Metropolitan Statistical Area (MSA). The first paper employs spatial econometric modeling, specifically a Spatial Autoregressive Model with Autoregressive Disturbances (SARAR), to examine the relationship between proximity to cafés and office rent levels in Portland’s central business …

Procurement Without Priors: A Simple Mechanism And Its Notable Performance, Dirk Bergemann, Tibor Heumann, Stephen Morris

Cowles Foundation Discussion Papers

How should a buyer design procurement mechanisms when suppliers’ costs are unknown, and the buyer does not have a prior belief? We demonstrate that notably simple mechanisms—those that share a constant fraction of the buyer utility with the seller—allow the buyer to realize a guaranteed positive fraction of the efficient social surplus across all possible costs. Moreover, a judicious choice of the share based on the known demand maximizes the surplus ratio guarantee that can be attained across all possible (arbitrarily complex and nonlinear) mechanisms and cost functions. Results apply to related nonlinear pricing and optimal regulation problems.

Explaining Pension Trends And Recent Pension Performance, Nathan Jeppson, John A. Ruddy, David F. Salerno

Pennsylvania Economic Review

Due to significant unfunded liabilities, many employer-sponsored retirement plans both domestically and internationally are shifting away from defined benefit (DB) pension plans to defined contribution (DC) plans. This is especially the case in private industry. Many expected that the COVID-19 pandemic would cause the funding status of DB plans to worsen. However, the opposite occurred. This is primarily due to decreased life expectancies and improved financial market performance. We utilize a 2004-2021 dataset that contains state level GDP, revenue, pension, and life expectancy data to study U.S. state DB pension plans. We are able to explain over 80% of the …

Housing Burden And Insurance Expenditures, Melanie M. Lytell

Honors Capstones

Housing costs shape the way families spend on protection and security. This study looks at how the share of income devoted to housing, the housing burden, influences household spending on four types of insurance: vehicle, life, personal, and health. Using data from nearly 92,000 households and regression models that account for state differences, I find that even small increases in housing burden shift insurance choices in meaningful ways. A one‑percentage‑point rise in housing burden is linked to a 2.1% increase in vehicle insurance spending and a 0.5% increase in life insurance, but a 0.7% decrease in personal insurance and a …

Hkc02 - Stabilizing Credit When Nonperforming Loans Surge: The Role Of Asset Management Companies, Reiner Martin, Edward O'Brien, M. Udara Peiris, Dimitrios P. Tsomocos

Oberlin College Kasper Economics and Business Working Paper Series

When default losses elevate borrowing costs, expanding credit cannot stabilize the economy because default rates feed back to lending rates through bank balance sheets. Asset management companies (AMCs) break this loop by purchasing nonperforming loans at their long-run recovery values, thereby fixing the effective default rate that banks face. Government purchases of performing loans expand credit but leave this feedback intact. In a model calibrated to the eurozone, the AMC reduces quarterly default rates by 0.8 percentage points, lowers lending rates by 1.6 percentage points, and raises welfare by 0.2%. Government purchases crowd out bank deposits, contracting credit; default rates …

Economics Of The Olympics: Impact Of Bidding For And Hosting The Olympic Games On International Openness, Adalynn Cherry

Pennsylvania Economic Review

This study investigates how hosting and unsuccessfully bidding to host the Olympic Games impacts total international trade and influences a country’s openness. This relationship is analyzed using the gravity model of trade to perform a regression analysis of total trade levels from 2000 to 2018. The results of this study did not support the idea that hosting the Olympic Games impacts total trade; although, they did show a strong and permanent positive relationship between unsuccessfully bidding to host the Olympic Games and total international trade. These findings highlight the benefits of the Olympic bidding and candidature process as a policy …

Energetic And Economic Aspects Of Rebound: Part 1 & 2, Matthew Kuperus Heun, Gregor Semieniuk, Paul E. Brockway

University Faculty Publications and Creative Works

Presentation to Exergy Economics Network Fri, 5 December 2025

Evaluating How New York City’S Recycling And Organic Waste Systems Reduce Resource Waste And Methane Emissions, Zihan Cao

Publications and Research

This study analyzes New York City’s waste management systems, with a focus on food waste diversion, composting, and renewable energy initiatives, to assess their role in methane emission reduction and resource efficiency. The analysis highlights the relative effectiveness of different waste management pathways and suggests that community-scale composting and decentralized anaerobic digestion are associated with substantial methane reductions relative to cost.

National Expenditure On R&D And International Comparison Of Productivity, Aegus Kim

Pennsylvania Economic Review

A higher national expenditure on research and development (R&D) may lead to a higher level of productivity in the national economy because innovations can improve overall efficiency in production by increasing output per worker. Unlike other empirical studies which suggest the positive impact of R&D expenditure on productivity but are often the result from the firm level or the industry level, this paper investigates a positive correlation between R&D spending and productivity using the 2019 national data for the top 25 countries ranked by R&D expenditure. The paper focuses on the relationship between international values of total factor productivity (TFP) …

The Artificial Intelligence (Ai) Economy In The Mountain West, 2025, Dre Boyd-Weatherly, Sean Curry, Krish Sharma, Kristian Thymianos, William E. Brown Jr.

Economic Development & Workforce

This fact sheet reports on the artificial intelligence (AI) readiness of five Mountain West metropolitan statistical areas (MSAs): Phoenix-Mesa-Chandler, AZ; Salt Lake City-Murray, UT; Denver-Aurora-Centennial, CO; Las Vegas-Henderson-North Las Vegas, NV; and Albuquerque, NM. Using data from the Brookings Institution's “Mapping the AI Economy” report, the MSAs are benchmarked based on their overall population, employment, talent, adoption, and innovation.

Exploring The Socioeconomic Determinants Of Abortion: Evidence From Pennsylvania, Guido Giuntini, Allyssa A. Wadsworth, Michael A. Malcolm

Pennsylvania Economic Review

Economic factors play a key role in determining fertility and the number of abortions performed. Using detailed county-level data from Pennsylvania, we used fixed-effects analysis to examine how changes in these economic factors are related to the number of abortions. Our most robust estimate suggests that each percentage point increase in the poverty rate is associated with approximately 5 additional abortions per 1000 live births, but that increases in college education rates are associated with a decline in abortions. We also offer some preliminary evidence on the effects of partisanship, religiosity and proximity to an abortion clinic.

Shock Transmission In Granular Economies: Impact Of Pass-Through Effects Of Idiosyncratic Microshocks To The Aggregate, Anamarija Cijan, Jože P. Damijan, Črt Kostevc

Economic and Business Review

This paper studies the importance of shocks to the largest firms on the aggregate output. Using firm-level data on eight European countries (2006--2019), we find that shocks to the largest firms explain an important part of aggregate fluctuations. Our paper brings several novelties. Firstly, in addition to the aggregate level, we extend the analysis of the transmission of firm-level shocks to study the shocks at the sectoral level. Secondly, we provide a novel measurement for demand-side shocks within granularity. We show that idiosyncratic shocks affecting the largest 20 firms can explain almost half of the output volatility, which is consistent …

Performance And Policy Review: Does Connecticut’S Open Choice Program Provide Equitable Opportunities To Underserved Students?, Jacob S. Carson, Gazi M. Duman

Pennsylvania Economic Review

The intent of Connecticut’s Open Choice Program is to offer underserved urban students the opportunity to achieve equitable educational outcomes by attending higher-quality public schools. As students transfer to schools that theoretically have more resources, increased educational achievement growth is expected. Additionally, with the implementation of the state exam, Smarter Balanced Assessment, student growth metrics have been introduced in state reporting. Examining student growth is a better measure for school quality than achievement levels. To understand the impact of Open Choice Program, a multiple regression analysis is applied to multiple imputed aggregate data to determine the relationship between school choice …

Hkc03 - Leading A Horse To Water: Understanding The Potential Consequences Of Ordeals In Subsidized Tariff Pricing, Evan Plous Kresch, Carlota Loran Lopez

Oberlin College Kasper Economics and Business Working Paper Series

Water utilities attempting to balance widespread network access with financial stability in providing services often employ Increasing Block Tariffs (IBTs), where volumetric rates increase nonlinearly with water consumed. The widespread adoption of IBTs by utilities across the world is partly attributed to their ability to cross-subsidize smaller monthly users; however, this often leads to the undesirable outcome that large poor households are shifted into higher tariff blocks. To address this, water utilities often adopt a“social tariff”, with significantly lower rates specifically targeted at poor households. However, most of these social tariff policies require households to opt-in or apply to the …

Beyond The Aid Paradigm: Neocolonialism, Recolonisation And The Future For Africa’S Development, John Ringson, Manamela Johannes David Matshabaphala

Southern African Journal of Policy and Development

The persistence of poverty, inequality, and underdevelopment in Africa, despite decades of foreign aid and assistance, has raised fundamental questions about the efficacy and sustainability of the aid paradigm. This qualitative desktop research study, employing discourse analysis, critically examines the complex relationships between aid, neocolonialism, and recolonisation in Africa, exploring the implications for the continent's future development. Drawing on a critical discourse analysis of existing literature, policy documents, and online archives, this study reveals how the aid paradigm has perpetuated neocolonialism and recolonisation in Africa, undermining the continent's sovereignty, agency, and self-determination. The study illuminates the power dynamics and relationships …

How Is South Africa's Black Economic Empowerment Policy (Bee) Addressing Historical Inequalities And Promoting Inclusive Development As Of 2024?, Nasim Uz Zaman

Southern African Journal of Policy and Development

South Africa’s Black Economic Empowerment (BEE) policy was introduced to dismantle apartheid-era economic disparities; however, its corporate-driven model has fostered symbolic compliance rather than substantive transformation. This study critically examines BEE’s structural limitations, specifically its failure to generate mass employment, its susceptibility to elite capture, and the prevalence of "fronting" practices. By juxtaposing BEE with affirmative action frameworks in Malaysia, India, and the United States, this research elucidates why ownership redistribution alone has failed to translate into inclusive economic mobility. Employing a qualitative policy analysis, this study synthesizes unemployment trajectories, implementation distortions, and systemic governance inefficiencies to highlight the constraints …

Earnings, Ethics, And Fast Fashion: How Does Income Affect Consumers’ Decisions?, Ava M. Minton

All Theses

This thesis examines if annual earnings influence consumers’ likelihood of avoiding clothing brands associated with labor exploitation. To examine this question, the study draws on four major U.S. datasets that together capture two decades of consumer attitudes and self-reported behaviors. The results show that income has a strong and statistically significant effect: household income increases the odds of avoiding exploitative brands by roughly 27 percentage points. Education, ideology, and gender also exhibit meaningful positive associations with ethical consumption, while age slightly reduces the likelihood of boycott participation. Overall, the analysis provides evidence that ethical consumption behaves like a normal good …

Data-Driven Mechanism Design: Jointly Eliciting Preferences And Information, Dirk Bergemann, Marek Bojko, Paul Dutting, Renato Paes Leme, Haifeng Xu, Song Zuo

Cowles Foundation Discussion Papers

We study mechanism design in environments where agents have private preferences and private information about a common payoff-relevant state. In such settings with multi-dimensional types, standard mechanisms fail to implement efficient allocations. We address this limitation by proposing data-driven mechanisms that condition transfers on additional post-allocation information, modeled as an estimator of the payoff-relevant state. Our mechanisms extend the classic Vickrey–Clarke–Groves framework. We show they achieve exact implementation in posterior equilibrium when the state is fully revealed or utilities are affine in an unbiased estimator. With a consistent estimator, they achieve approximate implementation that converges to exact implementation as the …

Drivers Of Racial Differences In C-Sections, Adriana Corredor-Waldron, Janet Currie, Molly Schnell

Cowles Foundation Discussion Papers

Black mothers with a trial of labor are 25 percent more likely to deliver by C-section than non-Hispanic White mothers. The gap is largest among mothers with the lowest risk and is reduced by only one-fifth when controlling for observed medical risk factors, sociodemographic characteristics, hospital, and physician or medical practice group. Remarkably, the gap disappears when performing a C-section is more costly due to a concurrent pre-labor C-section limiting surgical resources. This finding is consistent with provider discretion—rather than differences in unobserved medical risk—accounting for persistent racial disparities in delivery method. The additional intrapartum C-sections that occur among low-risk …

The "Gray Tsunami": Aging Trends In East Texas, Manuel Reyes-Loya, Cecilia Cuellar, Pedro Gallardo-Toledo

Hibbs Outlook of East Texas

This report examines the “gray tsunami,” the rapid aging of the Baby Boomer generation, and its impact on East Texas. As more workers retire, the region faces a shrinking labor force and a growing elderly population, reflected in a higher old-age dependency ratio than state and national averages. These demographic changes may create challenges for businesses and public services but also open opportunities through workforce flexibility, delayed retirement, and improved planning for healthcare, housing, and transportation. The report emphasizes the importance of proactive strategies to help East Texas adapt to and benefit from this

University Athletic Subsidies Connections To Various Campus-Wide Outcomes, Daniel Vainner

Dissertations

This study examines the relationship between university athletic subsidies and outcomes for the broader undergraduate student population. The athletic subsidy, referred to as an athletic tax, is defined as institutional and student fees used to support athletics. Although athletics are often viewed as enhancing institutional prestige and recruitment, most universities depend heavily on subsidies to sustain their programs. In 2019, National Collegiate Athletic Association (NCAA) institutions spent over $18.8 billion on athletics, with $8.3 billion, or 44 percent, coming from institutional and student sources rather than athletic revenue (NCAA, 2019a). This research explores whether such subsidization predicts measurable differences in …

The Moderating Effect Of Income Inequality On The Income–Emissions Relationship In G20 Countries, Zahra Rizky Fadilah, Budiasih Budiasih

Economics and Finance in Indonesia

This study analyzes the moderating effect of income inequality on the income–emissions relationship in the environmental Kuznets curve (EKC) framework. Findings indicate that the relationship is inverted U-shaped in middle-income G20 countries, but monotonically increasing in high-income G20 countries. Interestingly, income inequality moderates this relationship only in the latter group. These findings suggest that middle-income G20 countries should focus on raising income per capita to mitigate environmental degradation, while their high-income counterparts need to prioritize reducing income inequality to effectively decouple income from emissions.

The Relationship Between The Development Of Tourism Special Economic Zones (Sezs) And Local Tax Revenue, Ibnati Misbha Hussudurri, Riatu Mariatul Qibthiyyah

Economics and Finance in Indonesia

This study employs dynamic two-way fixed effect (TWFE) event regressions to analyze the direct impact of SEZ policies, specifically focusing on tourism SEZs in 6 districts across Indonesia and neighbouring districts within the same province. By examining data from 2010 to 2022, the research aims to evaluate how tourism SEZ development influences local tax revenue. Our estimation results show no evidence that Tourism SEZs affect aggregate local tax revenues. However, by type of local taxes, we found that Tourism SEZs have increased hotel tax and entertainment tax but not restaurant tax revenues.

Information Without Rents: Mechanism Design Without Expected Utility, Ernesto Rivera Mora, Philipp Strack

Cowles Foundation Discussion Papers

We study mechanism design for a sophisticated agent with non-expected utility (EU) preferences. We show that the revelation principle holds if and only if all types are EU maximizers: if at least one type is a non-EU maximizer, randomizing over dynamic mechanisms generates a strictly larger set of implementable allocations than using static mechanisms. Moreover, dynamic stochastic mechanisms can fully extract the private information of any type who doesn’t have uniformly quasi-concave preferences without providing that type any rent. Full-surplus extraction is possible in a broad variety of non-EU environments, but impossible for types with concave preferences.

The Bandwagon Model, Dean A. Williams

All Dissertations

Professional sports teams are in the entertainment market where owners of teams invest in players with the hopes of converting their talents into wins, and in turn, added revenues for their team. To gain an understanding of the incentives that shape these team talent investment decisions, prior economists have created theoretical models of professional sports leagues that give predictions regarding the cost to acquire talent, and the winning percentage of teams from different market sizes. These models are then used to show how team talent investment decisions change once professional sports leagues implement policies such as first-year player drafts, salary …

Mountain Communities During A Time Of War: A Case Study Of The Hutsul Region In The Carpathian Mountains Of Ukraine, Pavlo Rybaruk

Electronic Theses and Dissertations

This thesis investigates the ethno-ecological technologies employed by the Hutsul people within the highland agrarian economy of the Carpathian Mountains. Over centuries, the Hutsuls have developed ethno-ecological technologies that maintain ecological integrity while supporting community livelihoods.

The study addresses three primary research questions: What are the most important ethno-ecological technologies of the Hutsul highland economy? How might these traditional ethno-ecological practices be applied to economic, agricultural, and tourism development in the Hutsul region? How might these traditional ethno-ecological practices be combined with contemporary approaches to encourage sustainable development in the region?

The research explores the devastating impact of the Russian …

Hkc01 - What We Do In The Shadows: How Urban Density Facilitates Information Diffusion And Civic Engagement, Qing Zhang, Evan Plous Kresch

Oberlin College Kasper Economics and Business Working Paper Series

Does urban density facilitate the diffusion of information and civic engagement? This paper exploits plausibly exogenous variation generated by a unique national policy in China that requires all residential buildings to receive sufficient hours of sunshine. The policy creates higher degrees of restriction on density at higher latitudes, where longer shadows require buildings to be further apart. Using differential topic dynamics on a national petition platform to measure information diffusion, this paper shows that people respond to shifts in government attention with varying speeds across latitudes. Increases in local government reply rate to a topic raises the volume of subsequent …

Presumption Of Creditworthiness, Nakita Q. Cuttino

Michigan Law Review

Creditworthiness, or the likelihood that one will repay one’s debts, is typically signaled through a three-digit number known as a credit score. Yet, over thirty-two million adult-aged consumers lack adequate consumer credit reports and therefore do not have a traditional credit score. As a result of being unscored, these consumers are generally presumed uncreditworthy and foreclosed from mainstream credit markets. Unscored consumers are often relegated to extractive, fringe credit markets that neither require nor build credit scores. More insidiously, however, a growing number of non-credit contexts, including rental housing, utility services, and employment markets, look to creditworthiness to determine eligibility …

(Wp 2025-06) Ramsey And Keynes...And Sraffa And Wittgenstein: Change In Interwar Cambridge Economics And Policy, John B. Davis

Economics Working Papers

The Ramsey-Keynes exchange regarding the nature of probability is investigated in connection with the development of interwar Cambridge economics and Ramsey and Sraffa’s influences on Keynes and Wittgenstein. First discussed are Ramsey’s criticisms of Keynes and Wittgenstein; then Sraffa’s criticisms of Marshall and Wittgenstein. Ramsey was influenced by Peirce and pragmatism and Sraffa by Gramsci and the theory of cultural hegemony. Ramsey died in 1930 but Sraffa continued to interact with both Keynes and Wittgenstein. After his critique of Marshall he participated in the ‘Cambridge circus’ and turned to recovering the Classical economics of Ricardo. Keynes’s General Theory statement of …